Not quite, you and a lot of others seem to argue it's a failure, useless, or rubbish
No my main argument is it's not clearly not as good as the hype. Its clearly not useless its just that personally i think it doesn't offer anything new or even any single thing which makes me say oh i need one of them.

It does the exact same things (more or less), just better than any smartphone (even the iPhone, because of the large screen real estate)
Maybe but i cant carry it in my pocket !

If it failed badly, people would not buy it, and those that did would return it. It does exactly what people want, because they buy, continue to buy, and keep their iPads.
People go and watch Sex and the City 2 at the cinema, that doesn't mean that it is not still dreadful and a failure as a movie.